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Schroder climate change fund to melt into Abercrombie fund

Schroder climate change fund to melt into Abercrombie fund

The Schroder Global Climate Change fund is to merge into one of the group’s quantitative equity strategies.

The Global Climate Change fund launched in 2007, but contains only £30.9 million. Managed by Simon Webber and Giles Money, it has returned 17.7% over the past three years compared with an average of 22.3% from its Citywire Global Equities peer group.

The fund will merge into the £841 million Schroder QEP Global Core fund, which is managed by Justin Abercrombie, head of the firm’s QEP investment team.

QEP Global Core has generated 33.3% on a three-year view, a top-quintile performance in the same Citywire sector. It also boasts a top-quintile Sharpe ratio for the period in the 263-strong category.

Schroder managing director UK intermediary Robin Stoakley said: 'We continually review our UK fund range to ensure that we are giving our clients the best offering.

'We believe it is in investors’ best interests to merge the Schroder Global Climate Change fund with the Schroder QEP Global Core fund. The fund continues to give investors exposure to a portfolio of global companies and has delivered consistent outperformance since launch at a low cost.' 

He added: 'Climate change remains an important structural theme for the global and international equities team at Schroders and the decision to merge the Schroder Global Climate Change fund does not diminish this.'   

Separately, Schroders has today launched an onshore version of its QEP Global Emerging Markets fund, which is also run by Abercrombie.

‘We have been investing in both developed and emerging market companies for over a decade and have a proven track record of successfully generating value in these markets,’ commented Abercrombie (pictured).

‘Since launching the standalone emerging markets strategy in early 2012, we have attracted new client assets of over £1.7 billion. We feel it is a natural step to extend this proposition to the onshore UK market.’

QEP Global Emerging Markets has produced a return of 4% over the past year, versus 3.1% from its average competitor in the Global Emerging Markets sector.

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Justin Abercrombie
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